*Personal Finance Insider typically includes a Better Business Bureau rating for an investment platform in this grade, but Zacks Trade does not have a BBB profile at this time.
Is Zacks Trade Right for You?
Zacks Trade is about
It dates back to 1978. The investment platform caters to advanced active traders who like to control the flow of securities to and from their accounts, it also offers stocks, ETFs, options, mutual funds and more.
Zacks Trade is a division of LBMZ Securities, which in turn is a subsidiary of Interactive Brokers, LLC.
Its mobile application is available on Android devices.
Not sure if Zacks Trade is right for you? Keep reading to see how it fits in with similar investment platforms.
How does Zacks Trade compare?
Zacks Trade, Interactive Brokers, and Webull are great options for those who want to trade securities themselves. Each brokerage offers investments such as stocks, options, and ETFs, but there are some notable differences.
While Zacks Trade and Webull allow you to trade stocks, ETFs, and options, Webull is a better option for both low fees and for traders interested in cryptocurrency and ADRs. However, when it comes to choosing an expanded search, Zacks Trade has an advantage over Webbull.
If you are looking for a wide range of products (for example, automated accounts, precious metals and other assets), then Interactive Brokers may be the best choice.
Ways to invest with Zacks Trade
Zacks Trade is best for active traders who don’t mind spending more to take advantage of things like market research reports and advanced trading tools. Although the minimum brokerage of $2,500 is relatively high (popular brokerages like Fidelity, Charles Schwab and Interactive Brokers all have $0 minimum for their self-directed trading accounts), it gives its users access to more than 20 research subscriptions. Free and 80 premium experiences.
These offers include market analysis from companies such as Dow Jones, Morningstar, and Looking Alpha. For its trading tools, Zacks Trade offers stock algorithm/programming tools, market scanners (allowing you to scan stocks, bonds, mutual funds and options based on your preferences), options strategies labs,
sieve, and more.
For its account types, Zacks Trade offers single, joint, and fiduciary accounts. It also supports traditional IRAs, Roth IRAs, SEP IRAs, rollover, and corporate and enterprise accounts.
Client Portal vs Zacks Trade Pro
Each customer gets access to the Zacks Trade Customer Portal. This platform is ideal for those who simply want to place trades from time to time and manage account balances in one place.
However, if you are looking to make high volume trades for investments like options and stocks, Zacks Trade Pro is probably a more suitable option. It offers many other perks, including market analysis tools, investment news, and portfolio history, all in one place. You can access both platforms by setting up the Handy Trader Android mobile app. See more here.
Is Zacks Trade trustworthy?
The Personal Finance Insider program assesses trustworthiness by reviewing each company’s best business office profile. Evaluations usually reflect the firm’s opinion of how well companies interact with their clients.
Although Zacks Trade does not currently have a BBB profile, its track record is generally clear for any major lawsuits or scandals. However, it is still necessary to do a thorough review of every investment platform you are considering before making a final decision.